Turkish lira rallies as Erdogan’s son-in-law resigns
The economy chief’s resignation strengthens the lira as much as 6% against the dollar a day after the central bank governor was fired
Ankara — Berat Albayrak, the son-in-law of Turkish President Recep Tayyip Erdogan, unexpectedly resigned as the country’s economy chief a day after the central bank governor was fired, igniting fresh political turmoil. The lira rallied as investors found relief in the upheaval.
Albayrak cited unspecified health reasons for his decision to step down as finance and Treasury minister, according to a statement posted on his verified Instagram account on Sunday. The announcement came after Erdogan replaced central bank governor Murat Uysal with former finance minister Naci Agbal, a critic of Albayrak’s economic management...